Ukraine's Lawmakers Vote To Allow Trade Embargo Against Russia

Ukraine's parliament has approved a bill that allows the government to impose a trade embargo against Russia, a week after Russia announced a food embargo against Ukraine.

"The cabinet of ministers will introduce similar restrictive measures against the Russian Federation. We will protect Ukraine's domestic market," Ukrainian Prime Minister Arseniy Yatsenyuk said in a speech in parliament on December 24.

Last week, Russia canceled its free-trade zone with Ukraine and banned Ukrainian food imports in response to Kyiv's free-trade agreement with the European Union, which will come into force next month.

Russia is afraid the agreement will flood its market with European goods and will make its own exports to Ukraine less competitive.

The law, supported by 291 of the parliament's 420 lawmakers will come into force once it is signed by the president.